Google Profit Rises; Stock Up 5%

(RTTNews) - Google Inc (GOOGL) on Thursday reported second-quarter net earnings of $3.93 billion or $4.93 per share compared with $3.35 billion or $4.88 per share last year.

Excluding items, adjusted earnings for the quarter were $6.99 per share compared with $5.98 per share a year ago.

Revenues for the quarter were up 11 percent at $17.73 billion compared with $15.96 billion in the prior year.

Analysts polled by Thomson Reuters estimated earnings of $6.71 per share on revenues of $17.75 billion for the quarter. Analysts' estimates typically exclude special items.

"Our strong Q2 results reflect continued growth across the breadth of our products, most notably core search, where mobile stood out, as well as YouTube and programmatic advertising", said Ruth Porat, CFO of Google. "We are focused every day on developing big new opportunities across a wide range of businesses. We will do so with great care regarding resource allocation."